Kaplan P4 Mock Exam
ACCA REVISION MOCK
June 2010
Question paper
Time allowed Reading and planning: Writing:
15 minutes 3 hours
This paper is divided into two sections: Section A TWO compulsory questions Section B TWO questions ONLY to be attempted
Formulae Sheet and Mathematical Tables are on pages 3, 4, 5, 6 and 7 Do NOT open this paper until instructed by the supervisor This question paper must not be removed from the examination hall
Kaplan Publishing/Kaplan Financial
KAPLAN PUBLISHING Page 1 of 14
Paper P4
Advanced Financial Management
ACCA P4 Advanced Financial Management
© Kaplan Financial Limited, 2010
All rights reserved. No part of this examination may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without prior permission from Kaplan Publishing. The text in this material and any others made available by any Kaplan Group company does not amount to advice on a particular matter and should not be taken as such. No reliance should be placed on the content as the basis for any investment or other decision or in connection with any advice given to third parties. Please consult your appropriate professional adviser as necessary. Kaplan Publishing Limited and all other Kaplan group companies expressly disclaim all liability to any person in respect of any losses or other claims, whether direct, indirect, incidental, consequential or otherwise arising in relation to the use of such materials.
Page 2 of 14
KAPLAN PUBLISHING
Revision Mock Questions
FORMULAE SHEET
Modigliani and Miller proposition 2 (with tax) ke = kie + (1 − T)(kie − kd)
Vd Ve
Two asset portfolio sp =
2 2 w a s a + w 2 s 2 + 2w a w b rab s a s b b b
The capital asset pricing model
E(ri) = Rf + βi(E(rm) − Rf)
The asset beta formula
⎡ ⎤ ⎡ Vd (1 − T ) ⎤ Ve βa = ⎢ βe ⎥ + ⎢ βd ⎥ ⎣ (Ve + Vd (1 − T )) ⎦ ⎣ Ve + Vd (1 − T )) ⎦
The growth
June 2010
Question paper
Time allowed Reading and planning: Writing:
15 minutes 3 hours
This paper is divided into two sections: Section A TWO compulsory questions Section B TWO questions ONLY to be attempted
Formulae Sheet and Mathematical Tables are on pages 3, 4, 5, 6 and 7 Do NOT open this paper until instructed by the supervisor This question paper must not be removed from the examination hall
Kaplan Publishing/Kaplan Financial
KAPLAN PUBLISHING Page 1 of 14
Paper P4
Advanced Financial Management
ACCA P4 Advanced Financial Management
© Kaplan Financial Limited, 2010
All rights reserved. No part of this examination may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without prior permission from Kaplan Publishing. The text in this material and any others made available by any Kaplan Group company does not amount to advice on a particular matter and should not be taken as such. No reliance should be placed on the content as the basis for any investment or other decision or in connection with any advice given to third parties. Please consult your appropriate professional adviser as necessary. Kaplan Publishing Limited and all other Kaplan group companies expressly disclaim all liability to any person in respect of any losses or other claims, whether direct, indirect, incidental, consequential or otherwise arising in relation to the use of such materials.
Page 2 of 14
KAPLAN PUBLISHING
Revision Mock Questions
FORMULAE SHEET
Modigliani and Miller proposition 2 (with tax) ke = kie + (1 − T)(kie − kd)
Vd Ve
Two asset portfolio sp =
2 2 w a s a + w 2 s 2 + 2w a w b rab s a s b b b
The capital asset pricing model
E(ri) = Rf + βi(E(rm) − Rf)
The asset beta formula
⎡ ⎤ ⎡ Vd (1 − T ) ⎤ Ve βa = ⎢ βe ⎥ + ⎢ βd ⎥ ⎣ (Ve + Vd (1 − T )) ⎦ ⎣ Ve + Vd (1 − T )) ⎦
The growth